What Are Whales Doing With Qualcomm

What Are Whales Doing With Qualcomm

 

Someone with a lot of money to spend has taken a bearish stance on Qualcomm QCOM.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with QCOM, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 40 uncommon options trades for Qualcomm.

This isn't normal.

The overall sentiment of these big-money traders is split between 47% bullish and 52%, bearish.

Out of all of the special options we uncovered, 26 are puts, for a total amount of $1,816,510, and 14 are calls, for a total amount of $24,959,776.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $165.0 for Qualcomm over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Qualcomm's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Qualcomm's whale activity within a strike price range from $100.0 to $165.0 in the last 30 days.

Qualcomm Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
QCOM CALL TRADE BEARISH 08/19/22 $125.00 $24.3M 4.0K 10.0K
QCOM PUT SWEEP BULLISH 01/19/24 $135.00 $295.6K 4.3K 168
QCOM PUT SWEEP BEARISH 10/21/22 $160.00 $193.2K 649 193
QCOM CALL SWEEP BULLISH 08/19/22 $135.00 $139.0K 9.8K 100
QCOM PUT SWEEP BEARISH 06/16/23 $135.00 $130.6K 982 116

Where Is Qualcomm Standing Right Now?

  • With a volume of 3,238,280, the price of QCOM is down -0.59% at $149.14.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 77 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Qualcomm, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets